IPO Cannot fill in the others name, If so found by software and will punish

Sep Fri 2021 03:17:54

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IPO Cannot fill in the others name,  If so found by software and will punish

Kathmandu: CDS & Clearing is developing new software to eliminate the trend of making profit by filling IPO in the name of others.

After the DPs fill in the KYC details of the customer in the software, there will be eye storage in the system of CDSC. According to him, now the KYC details will be made more detailed. Even those who have opened a demat account so far will have to verify some additional details once they are sub-located in the Depository Member (DP). At the same time, those who have opened demat account in the name of others will be found.

The new software will have a higher ability to identify photos and people. Due to this, it will be known to a large extent whether the person according to the citizenship photo is present or not, said Acharya. Similarly, customers will also wear lapels from the machine. The demat account of the certified persons will be operated and the demat account of the non-certified persons will be removed after a certain period of time.